National Economy
Monday, July 7, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Transcorp Power Reports Gross Earnings Of N142.1bn

by Adejumoke Adeeso
1 year ago
in Business
Reading Time: 2 mins read
transcorp
Share on FacebookShare on TwitterShare on Telegram

Transcorp Power Plc  one of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has released its audited financial statements for the year ended December 31, 2023.

 

The Company reported gross earnings of N142.1 billion for the 12 months, marking a strong increase of 57.30%, from N90.34 billion reported in FY 2022. Profit before tax showed a similar impressive year-on-year growth, surging by 84.61% to N52.8 billion, from N28.6 billion reported in the previous year.

 

You May Like

FAAN Seeks Investment In Cargo, Aviation Industry

Mouka Rewards Top Business Partners With Trip To Cape Town

Commenting on the results, Peter Ikenga, Managing Director/CEO of Transcorp Power attributed the substantial growth to the Company’s strong operational capabilities and effective business strategies.

 

“We are proud of the significant progress we have made in delivering value to our shareholders and other stakeholders.  This performance is a testament to the dedication and hard work of our team, as well as our focus on operational efficiency and ingenuity,” Ikenga stated.

 

With earnings per share standing at N92.25, Transcorp Power continues to deliver significant returns to its investors, reaffirming its position as a leading player in the power sector.  The Company, which was listed on the main board of the Nigerian Exchange on March 4, 2024, has continued to enjoy impressive market confidence.

 

In line with its commitment to shareholder value, the Board of Directors has proposed a final dividend of N3.13 to shareholders. This dividend payout reflects the Company’s strong financial position and underscores its dedication to rewarding shareholders for their support and investment in the Company.

 

Transcorp Group continues to demonstrate its position as a major player in the African power sector, with a focus on delivering reliable power solutions to meet the needs of its customers and stakeholders, in line with its mission of improving lives and transforming Africa.  Transcorp Power operates the 972 MW gas-fired Ughelli Power Plant, while non-quoted Transcorp Group subsidiary TransAfam Power operates the 966 MW gas-fired Afam Power Plant, with total joint installed capacity of approximately 2,000 MW. In 2023, executing its strategy of value chain optimisation, Transcorp Group invested in the Abuja Electricity Distribution Company (AEDC) to ensure power gets to the last mile users safely and reliably.

Tags: Managing Director/CEO of Transcorp PowerPeter IkengaTranscorp Power Plc
ShareTweetShare
Previous Post

Customs Arrests 29, Intercepts N2.87bn Worth Of Contrabands In 2 Months

Next Post

Soulcomms Celebrates 20th Anniversary, Unveils New Chief Operating Officer

ANOTHER GOOD READ

FAAN Seeks Investment In Cargo, Aviation Industry
Business

FAAN Seeks Investment In Cargo, Aviation Industry

2 weeks ago
Mouka Rewards Top Business Partners With Trip To Cape Town
Business

Mouka Rewards Top Business Partners With Trip To Cape Town

1 month ago
Union Bank Hosts Math Contest For Hearing-impaired Students
Business

Union Bank Hosts Math Contest For Hearing-impaired Students

1 month ago
Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0
Business

Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0

1 month ago
Asharami Energy Commits To Local Capacity Devt, Sustainable Growth
Business

Asharami Energy Commits To Local Capacity Devt, Sustainable Growth

1 month ago
Foreign Investor Reveals Plan To Invest Multi-billion Dollar In Nigeria
Business

Foreign Investor Reveals Plan To Invest Multi-billion Dollar In Nigeria

1 month ago
Next Post
Soulcomms Celebrates 20th Anniversary, Unveils New Chief Operating Officer

Soulcomms Celebrates 20th Anniversary, Unveils New Chief Operating Officer

Most Recent

LG Launches “Radio Optimism” Campaign

LG Launches “Radio Optimism” Campaign

July 7, 2025
Are Africans Genetically Inferior?

Are Africans Genetically Inferior?

July 7, 2025
Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

July 7, 2025
Idahosa Pledges Support For Grassroots Sports Dev’t

Idahosa Pledges Support For Grassroots Sports Dev’t

July 7, 2025
WAFU B U20 Tourney: Flying Eagles Resume Training

WAFU B U20 Tourney: Flying Eagles Resume Training

July 7, 2025
NFF Extends Tenure Of NPFL, NNL, NLO Boards To Sept 2026

NFF Extends Tenure Of NPFL, NNL, NLO Boards To Sept 2026

July 7, 2025
Driving Aviation Growth Through Regional Collaboration

Driving Aviation Growth Through Regional Collaboration

July 7, 2025
Unlocking Africa’s Manufacturing Potential In Global Trade Networks

Unlocking Africa’s Manufacturing Potential In Global Trade Networks

July 7, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy